When deciding between Revolut and Soldo, it’s important to evaluate which features best align with your financial needs.
This comparison will highlight key differences, from mobile banking capabilities to specific benefits, helping you make an informed choice.
Revolut
Soldo
How do Revolut and Soldo compare?
Revolut and Soldo are two mobile banking platforms designed to cater to the financial needs of businesses and their employees. While both offer digital financial services, they differ significantly in terms of their target audience, pricing models, and features.
Revolut Business, a UK-based platform, is designed for businesses that require a wide range of financial services. It offers multi-currency accounts, business debit cards, and comprehensive expense management tools. Revolut Business allows employees to easily manage expenses, with features such as real-time notifications and automatic categorization of expenses. Businesses can choose from different subscription plans that vary in features, such as team management tools, accounting software integration, and international money transfers. Revolut Business also provides additional services like cryptocurrency trading, which can be beneficial for businesses involved in global transactions.
Soldo, also UK-based, is focused on prepaid card solutions and expense management for businesses. Soldo provides prepaid Mastercard cards that can be assigned to individual employees, with customizable spending limits. It offers a web-based dashboard for real-time expense tracking and categorization, helping businesses monitor their spending more effectively. Soldo’s platform also supports multi-currency cards and advanced analytics, making it a good choice for businesses that need a simple and streamlined expense management solution. Like Revolut Business, Soldo offers various plans with different pricing tiers, but it charges a monthly fee per card, along with transaction fees for certain activities.
When it comes to pricing, Soldo operates with a card-based monthly fee structure, while Revolut Business charges a monthly fee for premium plans, though some basic features are free. Both platforms charge fees for additional services like international money transfers, but Revolut Business also offers more extensive financial services beyond expense management, such as cryptocurrency trading and currency exchange.
In summary, Revolut Business may be the better choice for businesses seeking a comprehensive suite of financial services, including international transfers and advanced tools like cryptocurrency trading. Soldo, on the other hand, is more suited for businesses that prioritize a simple, customizable prepaid card and expense management solution, with an emphasis on tracking and controlling employee spending. Each platform offers a unique set of tools, making them appealing to different business needs.
Founded: 2015
Headquarters: London, UK
Users: +45 million
Countries available: 35
Account plans: 5 plan options
Go to Revolut
Founded: 2015
Headquarters: London, UK
Users: +30,000 thousand
Countries available: United Kingdom and Europe
Account plans: 3 plan options
Go to Soldo
Other comparisons about Revolut and Soldo
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.